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simple interest

I need help with this question for simple interest. The principal given is 50000 from 11 November 2016 to 10 May 2017 (181days) with an annual interest rate of 4.5%. I know that the amount of interest is 1114.90 but I cannot seem to get the calculation right. Please help. Thank you.

Posted in Math, asked by [email protected], 3 years ago. 1030 hits.
Hi! Are you asking for the formula of simple interest? - John Philip Nadela 4 months ago


P = P50,000

r = 4.5% = 0.045

t = 181 days

I = Prt = Pr(t/360)

I = P50,000 x 0.045 x (181 days / 360 days)

I = P1131.25 <- Ans.


John Philip Nadela
John Philip Nadela - 4 months ago
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